Post by
Heywood_Silvers on Apr 05, 2022 7:20pm
Considering how slow management moves....
The Arras shares could be mothballed for years to come. They did a private placement for their last capital raise. What incentive do they have to jump through the hoops to get the Arras shares publicly listed for trading? Barry and company can continue to transact via private placement for as long as they can find willing buyers.
The only way we SVBL shareholders will ever see any vaule for the Arras shares is if Barry is forced to enter the public market to raise capital. By that time, he may have already sold off half the Beskauga project to one of South 32's friends. Beskauga could very well end up being another one of the boondoggles ala the Dome Ventures merger years ago with SVBL or selling off most of the one asset (Sierra Mojada) that actually gave any intrinsic value to SVBL.
I think we learned everything we need to know about Barry & company when a few years ago he had to publicly beg the shareholders to vote in order to achieve a quorum so that any business could be transacted after the original AGM was delayed due to lack of voting. I have never seen that with any other company, certainly one that I that I own shares in. That was a huge red flag looking back in retrospect.
Gee Barry, I wonder why there is apathy amongst us shareholders, considering how you treat the owners of the company. For the record, I withheld all my votes for Barry at this year's AGM. I am now on the fence whether I would buy more shares even if this dropped below 20 cents. Maybe ten cents? Even this broke-down piece of junk is worth 10 cents.....I think.
What a cushy job Barry has: sit on your duff, collect a paycheck and wait for South 32 to finish the pillaging of Sierra Mojada. And we should trust him with the Kazakhstan venture?!
Comment by
hcarbon on Apr 13, 2022 1:58pm
I dont really get the S32 deal in all its details. It was sign in 2018 and was four years, which means to 2022. Will there be an decision made by S32 this year how to proceed?
Comment by
hcarbon on Apr 13, 2022 2:28pm
The S32 option seems to be under force majeure pause!